Pandora Media and TiVo Shares Buzz on Trading Radars After Earnings Releases
Pandora Media Inc (NYSE:P) reported its results for the most recent quarter. Net income for the company was $638,000 (0 cents per share). The company reported a loss of $1.77 million (15 cents per share) in the year-ago quarter. Revenue rose 99% to $75 million.
“Rapid growth of 104% year-over-year in listener hours and record Internet radio market share growth to 66% illustrates the strong demand for personalized radio,” stated Joe Kennedy , Chairman, President & CEO of Pandora. “Our growing scale and powerful, multi-product advertising platform is enabling Pandora to increasingly penetrate areas that were once solely served by terrestrial radio. Our momentum in transforming the radio industry is stronger than ever.”
Competitors to Watch: Sirius XM Radio Inc. (NASDAQ:SIRI), Linkedin Corporation (NYSE:LNKD), Google Inc. (NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL), Career College Holding Co. Inc. (CCHZ), CBS Corporation (NYSE:CBS), Amazon.com, Inc. (NASDAQ:AMZN), Comcast Corporation (NASDAQ:CMCSA), and Time Warner Cable Inc. (NYSE:TWC).
TiVo Inc.’s (NASDAQ:TIVO) loss widened in the third quarter, as the company’s results were dragged down by higher costs. Loss widened to $24.5 million (21 cents per diluted share) from $20.6 million (loss of 18 cents per share) in the same quarter a year earlier. Revenue rose 27.4% to $64.8 million from the year earlier quarter. TIVO beat the mean analyst estimate of a loss of 23 cents per share. It beat the average revenue estimate of $50.6 million.
Tom Rogers, President and CEO of TiVo, said, “This was a great quarter and represented a significant step in our growth strategy. Our efforts to get TiVo in more homes globally continues to accelerate as we drove approximately 117,000 net subscription additions and returned to total positive net subscription growth for the first time in four years. We also exceeded our quarterly guidance on service and technology revenues, Adjusted EBITDA and net income. In the U.K., Virgin Media has now deployed its TiVo offering to more than 220,000 subscribers as of the end of October, and RCN recently expanded its TiVo product offering through the deployment of a whole-home solution. Both ONO and Grande deployments are now live, and we expect Charter Communications to begin initial deployments shortly. Additionally, DirecTV intends to launch its TiVo offering in select markets in December with a nationwide rollout to follow early next year. All of this is a testament to our leadership in advanced television and our ability to drive meaningful solutions to market.”
Competitors to Watch: DISH Network Corp. (NASDAQ:DISH), Comcast Corporation (NASDAQ:CMCSA), Virgin Media Inc. (NASDAQ:VMED), DIRECTV (NASDAQ:DTV), Time Warner Cable Inc. (NYSE:TWC), Cablevision Systems Corp. (NYSE:CVC), Netflix (NASDAQ:NFLX) and Echostar Corporation (NASDAQ:SATS).